First Published 7th June 2016

New York - Alforma Capital Markets, a
New York-based US broker dealer, has taken a step closer to being
acquired by BCS Global Markets, a securities broker on the Moscow
Exchange, by achieving formal regulatory approval from US
regulatory body FINRA (Financial Industry Regulatory Authority).

The transaction is expected to close within a couple of weeks,
and will signify the official launch of operations for BCS Global
Markets into North America. Once finalised the firm will be
renamed BCS Americas Inc., and will provide brokerage and
investment services to US-based institutional investors seeking
to access Russian securities market.

With a significant market share of trades on the Moscow Exchange,
reaching 25% of securities trading across all asset classes, BCS
Global Markets has already received positive interest from local
institutions, bearing witness to the growing appetite for Russian
products in the US.

Luis Saenz, Head of Equity & Trading, Alforma Capital Markets
(BCS Americas Inc.), commented: "US-based institutions are the
leading international investors in both emerging and Russian
markets. The launch of BCS Global Markets' operations in the US
is confirmation of the Group's ambitions to further develop
investment from the region, and continue to tap into this
exciting market."

Roman Lokhov, Chief Executive Officer of Global Markets and
Investment Banking at BCS, added: "Amidst a challenging global
backdrop, we have been granted regulatory approval from FINRA.
This development is testament to how, in the past three years,
BCS Global Markets has become one of the leading financial
institutions in Russia through strategic investment in market
expertise, products and infrastructure. As a result, we are now
perfectly suited to bring these operational benefits to the US
market."